Korean Job Discussion Forums

jstrain · Joined: 03 May 2006

I have been working in the same hagwon for 2.5 years. I do not have health insurance, but it was offered on my contract as 50/50. My director takes out 5% taxes. When I end my employment with this hagwon, will I get any of this money back? Can I check to see if he is paying these taxes?

Aussiekimchi · Joined: 21 Apr 2006 Location: SYDNEY

To my knowledge there are 3 numbers we can request as employees here.
Someone who knows more about this is welcome to correct me, but as I know it
pension number
medical insurance number
income tax number
My boss knows everything Korean and tells me you could get statements for all of these.

(pretty girl phone numbers????)

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

the eye · Joined: 29 Jan 2004

Contrary to the hype posted above me, you may not be paying too much. Of course, income tax is progressive, so if you earn more than 2.2million per month, you will pay a SLIGHTLY higher persentage.
Other factors are your deductions, such as being female (you pay less), and also paying into the Health and Pension Plans. If you do not pay into the Pension Plan and Health Plan, your tax rate should be about 5%.

Paying into those plans lowers your taxable income. My workplace withholds 3% and then i end up paying more when i calculate my income tax return in May.

here is a guide and calculation forms....
www.nta.go.kr/menu/users/ntseng/Tax_Guide3.htm

if you want to check whether the boss is actually paying his taxes, you will need your school's business registration number. it will be on an official looking document in view of the reception desk.